BlackRock Inc Strat Portfolio Update
23 10월 2015 - 6:13PM
UK Regulatory
TIDMBIST
BLACKROCK INCOME STRATEGIES TRUST PLC
All information is at 30 September 2015 and unaudited.
Performance at month end with net income reinvested
One Three Six Since
Month months months 27 February 2015*
Share price -1.9% -1.4% -0.6% -0.2%
Net asset value -2.3% -3.8% -7.8% -7.7%
Net asset value (before
deduction of ongoing -2.3% -3.7% -7.6% -7.4%
charges)
CPI+4%** 0.2% 1.0% 2.4% 3.1%
Sources: BlackRock, Office of National Statistics
*BlackRock took over the investment management of the Company and the Company's
investment policy and objective were changed with effect from 27 February
2015. Consequently, performance data for the period preceding this is no
longer relevant to the Company's current mandate and has not been provided.
** The Company's investment objective is, over the medium term (5 to 7 years),
to aim to preserve capital in real terms and to grow the dividend at least in
line with inflation. The Company targets a total portfolio return of UK
Consumer Price Index ("CPI") plus 4 per cent. per annum (before ongoing
charges) over a 5 to 7 year cycle. The percentage calculations given for CPI+4%
above are for information purposes.
At month end
Net asset value incl. Income (debt at fair value): 129.30p
Share price: 130.50p
Premium to Cum Income NAV (debt at fair value): 0.9%
Total assets (including income): GBP432.1m
Net yield*: 5.2%
2014 Ongoing charges ratio**: 0.65%
* yield calculations are based on dividends announced in the last 12 months as
at the date of release of this announcement.
** Calculated as a percentage of average net assets and using expenses
excluding interest costs for the year ended 30 September 2014.
Portfolio analysis % of Gross Assets
Equities 57.9
UK Equities 42.9
Overseas Developed Market Equities 12.2
Emerging Markets Equities 2.8
Volatility Strategies 11.8
Fixed Income 25.3
International Government Bonds 7.9
Investment Grade Corporate Bonds 5.5
High Yield Bonds 11.9
Alternatives 4.0
Listed Alternatives 4.0
Cash Equivalents 1.0
Physical Cash* 25.4
Synthetic Cash (held to back derivative exposures) -24.4
* Cash of 25.4% is before adjusting for cash held to back gross economic
exposures obtained through derivative instruments of approximately 24.4%. The
Company also has a 6.25% Bond 2031 in issue, which equates to 16.1% of the
Company's net assets.
Commenting on the markets, Adam Ryan, representing the Investment Manager
noted:
In September, financial markets continued to react negatively to slowing growth
in emerging markets which, in turn, generated greater speculation around the
outlook for global growth. Market volatility remained heightened throughout the
month. Equities and credit fell over the period negatively impacting
performance, but there was some resilience from government bond markets which
helped our positions in overseas fixed income. The US Federal Reserve elected
to leave rates on hold, acknowledging recent economic and financial market
conditions. We have moved into a period of heightened volatility, but we remain
constructive on the long-term prospects for equities and credit from both a
growth and income perspective. We remain concerned around the Chinese growth
outlook, and the impact on emerging market assets.
22 October 2015
ENDS
Latest information is available by typing www.blackrock.co.uk/bist on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on BlackRock's website (or any other
website) is incorporated into, or forms part of, this announcement.
END
(END) Dow Jones Newswires
October 23, 2015 05:13 ET (09:13 GMT)
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